Multiple factors make the current situation more complex than the last writers’ strike. “At the time of the last strike, we were all still making trips to Blockbuster, and Netflix mailed you DVDs…It was a different industry and a different world then.”
Coming in the midst of the 2007 financial crisis, the strike helped accelerate the onset of recession in California, said Kevin Klowden, lead author of the Milken report.
that devastated the nation, and once the stoppage began in Hollywood, Klowden said, there was a whole sector of the local economy — including some very high-earners — that abruptly stopped buying new homes.
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